Scrap Steel prices continue to fall in USA

Recent statistics are showing a slow decline in the value of ferrous scrap alongside a marginal fall in production of steel in the USA. As reported in a recent Recycling Today article prices have fallen to around $50.

Brian Taylor from the website reported the following:

The early June domestic mill buying period seems to have reflected this partial lull, with Davis Index reporting U.S. markets having settled after that buying period down from $50 to $75 per ton, depending on the grade and region.

Davis Index says prompt grades fell in value some $75 per ton in the Chicago region. More commonly, they dropped by $50 or $55 per ton in other regions. No. 1 heavy melting steel (HMS) in Chicago, meanwhile, was “down [by] $55 per gross ton to $400 gross ton delivered,” Davis Index adds.

A relatively stagnant export market is not being helped by a continued lack of interest in U.S. scrap by Turkish buyers, combined with lower offers by potential buyers from Turkey.

“Demand for ferrous scrap remains sluggish following a lack of orders for Turkish steel products,” Davis Index reports June 10. Turkish mills were offering U.S. shippers from $400 to $410 per metric ton cost and freight (cfr) for blended No. 1 and No. 2 HMS shipments.

https://www.recyclingtoday.com/article/ferrous-scrap-steel-price-decline-june-2022/

Here in the UK, as of June 2022, steel scrap is running around 30p a kg (scrap yard dependant) whilst copper creeps towards £7